Announcement
SSH: DPC: DPC - The Bakery acquires cornerstone stake in Dorchester
05:12pm
DPC
31/08/2009
SSH
REL: 1711 HRS Dorchester Pacific Limited
SSH: DPC: DPC - The Bakery acquires cornerstone stake in Dorchester
31 August 2009
The Bakery acquires cornerstone stake in Dorchester
The Business Bakery LP (The Bakery) announced today that it has purchased
7,117,226 shares in Dorchester Pacific Limited (Dorchester) for $400,000 or
5.6 cents per share. The purchase price is a discount of 18% against the
volume weighted average market price over the last 30 business days and
represents 19.47% of the Dorchester shares on issue. The shares were
purchased from Auguste Holdings Limited.
The Bakery believes that while Dorchester has had some challenges, which the
market is well aware of, there are also significant opportunities in the
financial services sector which Dorchester, if well capitalised, would be
able to take advantage of.
The Bakery will seek to work with the Dorchester board and shareholders in
order to improve the future prospects of the company.
The Bakery is a limited liability partnership founded and managed by Geoff
Ross, Grant Baker and Stephen Sinclair. As well as Dorchester, The Bakery has
investments in The Hyperfactory International Limited, Foundry Asset
Management Limited and Ecoya Pty Limited.
For further information contact:
Grant Baker, 021 729 800
Disclosure of beginning to have substantial holding Section 22, Securities
Markets Act 1988
To: NZX (nzx@announce.com)
And: Dorchester Pacific Limited (tristram@dorchester.co.nz)
Date this disclosure made: 31 August 2009
Substantial security holder(s) giving disclosure Name(s): The Business Bakery
L.P.
Contact details: P O Box 17408, Greenlane, Auckland 1546 Date on which
substantial security holder began to have substantial holding: 31 August 2009
Summary of substantial holding to which disclosure relates Class of listed
voting securities: ordinary shares in Dorchester Pacific Limited (DPC)
Summary for The Business Bakery L.P.
For this disclosure,--
(a) total number held in class: 7,117,226
(b) total in class: 36,553,835
(c) total percentage held in class: 19.47% Details of relevant interests
currently in substantial holding Details for The Business Bakery L.P.
Nature of relevant interest(s): Registered holder and beneficial owner For
that relevant interest,
(a) number held in class: 7,117,226
(b) percentage held in class: 19.47%
(c) current registered holder(s) of securities: Auguste Finance Limited
(d) registered holder(s) of securities once transfers registered: The
Business Bakery L.P.
Details of transactions and events giving rise to person beginning to have
substantial holding Details of the transactions or other events requiring
disclosure under the instructions to this form: The Business Bakery L.P.
entered into an unconditional sale agreement on 31 August 2009 to acquire all
ordinary shares in Dorchester Pacific Limited currently held by Auguste
Finance Limited (being 7,117,226 ordinary shares). The consideration for the
7,117,226 ordinary shares acquired is NZ$400,000 in aggregate.
Additional information Nature of connection between substantial security
holders: N/A Address(es) of substantial security holder(s): P O Box 17408,
Greenlane, Auckland 1546 Name of any other person believed to have given, or
believed to be required to give, a disclosure under the Act in relation to
the securities to which this disclosure relates: Auguste Finance Limited
Declaration I, Stephen Sinclair, director of the general partner of The
Business Bakery L.P., declare that, to the best of my knowledge and belief,
the information contained in this disclosure is correct and that I am duly
authorised to make this disclosure by all persons for whom it is made.
End CA:00184271 For:DPC Type:SSH Time:2009-08-31:17:12:12
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